BANGKOK, March 27 (Xinhua) -- Thailand's industrial output fell in February, dragged down by a return to contraction in the petroleum and automotive industries, a strong baht currency, and prolonged geopolitical tensions, official data showed on Friday.
The Southeast Asian country's manufacturing production index (MPI) edged down 0.04 percent last month compared to a year earlier, and the capacity utilization stood at 58.21 percent, according to the Ministry of Industry.
Despite the downtick, key positive contributors to the reading were expanded consumer spending, boosted by seasonal events such as the Chinese New Year and Valentine's Day, said Supakit Boonsiri, director general of the ministry's Office of Industrial Economics.
Industrial exports recorded their 20th consecutive month of growth in February, while foreign tourist arrivals picked up for the first time in 11 months, providing an additional benefit to related industries, Supakit told a news conference.
Looking ahead, the MPI is expected to rise marginally in March due largely to seasonal factors, as the month marks the onset of the summer season, when consumer demand tends to increase across various products and industries, particularly for air conditioners, Supakit said.
However, the March figures are anticipated to reflect the economic fallout from ongoing tensions in the Middle East, with energy-intensive industries, specifically those reliant on combustion and thermal processes, being the most heavily affected by soaring fuel costs, he noted. ■
